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What is Litecoin

Litecoin is a
peer-peer digital currency, inspired
by the bitcoin. The creation and transfer of litecoin is based on an open
source protocol and is not managed by any central authority. There will be only
84 million litecoins in the world, four times of what bitcoin will have. Litecoin
is the third-largest true cryptocurrency by market capitalization, after Bitcoin
and Ethereum.

Litecoin was released on October 7, 2011 by Charles
Lee a former Google employee. Like bitcoin, it is also generated by mining but
a different process to the former. As of February 2015 there are many exchanges
that deal with Litecoin, e.g Nigeria’s Largest Exchanger – https://instantexchangers.net

Litecoin offers faster transaction confirmation
times and improved storage efficiency than the digital currency it copied,
Bitcoin. Though users have continued to increase, there is still the challenge
of gaining wide acceptance and getting more people to use the currency.

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Jostpay has launched a new offline wallet storage for Bitcoin, Litecoin, and BitcoinCash in a bid to enhance the security of your coins.

Henceforth, all funds transferred into your Jostpay Cryptocurrency Wallet will be moved and secured in your offline wallet after the 1st confirmation. You can withdraw from your offline wallet to bank, send Bitcoin, Litecoin or BitcoinCash and also trade on the marketplace.

Also, be informed that JostPay API has been modified, you can receive Bitcoin, Litecoin or BitcoinCash using our POP UP API seamlessly on your website.

I have been trying to dig out a good & funny intro line to start
this article but none seem to be coming at this time. So I'm just gonna
straight to the point.

What is Bitcoin?
Bitcoin is a digital or virtual type of money. Digital in the sense
that, it is not printed like your Naira or Dollar. Virtual in the sense
that, it is not physically felt or produced like other commodities that
can serve as a medium of exchange, store of value and unit of account. I
believe we understand that 'money' is not limited to our fiat
currencies alone. Money can be anything. Anything that can perform the
main functions of money can be used as 'money'. As you can exchange your
1000Naira for a plate of eba and egusi soup. You can also exchange your
iPhone7 for that same plate of food if you want to. Am certain Mama
Kabiratu won't mind. It is satisfying the same desire.

Now, defining bitcoin technically, Bitcoin is a kind of money or
peer-to-peer payme…